The Fund
Provin Investment Fund Ltd. is a multi class open-ended investment company established under the law of the British Virgin Islands

Investment Objective 
The fund's  investment objective is to achieve capital appreciation through  non-traditional investment techniques. In addition to capital appreciation the fund focuses on controlling risk as well as achieving returns uncorrelated to the performance of financial markets.

Investment Manager
Provin Capital Advisors Ltd. acts as investment manager for the fund.

Offering
The Company is offering, through this Private Offering Memorandum, Shares at subscription prices calculated with reference to the Net Asset Value per Share on each Dealing Day (plus a sales charge).

Subscriptions
Shares in  the fund may be purchased on each Dealing Day at the subscription price. Applications together with cleared funds for Shares must be received by the Administrator no later than 4.30 p.m. (London time) on a Business Day not less than 5 (five) Business Days prior to the relevant Dealing Day. The minimum initial investment in Shares is U.S.$250,000 (net of charges). The minimum additional investment $100,000 net of charges. These minimums may be lowered, increased or waived at the discretion of the Directors either generally or in specific cases.

Redemptions
Redemptions of Shares may be effected on each Dealing Day at prices calculated at the Net Asset Value per on such Dealing Day. The minimum redemption amount is U.S.$100,000 net of charges and the minimum residual holding in Shares is US$ 100,000.  

Risk Factors
There are significant risks associated with investment in the Company.  Investment in the Company may not be suitable for all investors and is intended for sophisticated investors who can accept the risks associated with such an investment including a substantial or complete loss of their investment. There can be no assurance that the Company  will achieve its investment objective. Each prospective investor should carefully review this Private Offering Memorandum and carefully consider the risks associated with an investment in the Company.

Custodian
The Company has appointed A BANK TO BE ADVISED to act as custodian to the Company.

Administrator
The Company has appointed AN ADMINISTRATOR TO BE ADVISED as its Administrator to perform operational and administrative duties in relation to the Company.

Auditor 
The Company has appointed AN ADMINISTRATOR TO BE ADVISED as its Administrator to perform operational and administrative duties in relation to the Company.